LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

May 20, 2022

What Does Petro’s Plan to Decarbonize Colombia Involve?

Colombian President-elect Gustavo Petro has promised to cut fossil fuel production in Colombia in order to stem global warming. He is pictured with coal miners in Boyacá province. // File Photo: @petrogustavo via Twitter.

Q

A

José Vicente Zapata, partner at Holland & Knight: “While President-elect Gustavo Petro’s specific plans for mineral, oil and gas exploration and production are yet to be formally presented, it would appear that the economic relevance of these sectors will require a phased-out nonrenewable and phased-in renewables approach, as the president-elect has now begun to signal. Over the past few years, these industries have been able to factor in sustainable development goals as well as key regulations related to climate change recommendations. President-elect Petro has indicated that granted concessions will be respected and that the sanctity of contracts will be upheld; however, there will be no new concessions, particularly in the oil and gas sector. This policy may affect production estimates and reserves following President-elect Petro’s four-year term, but it’s clear that fossil…”

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ABOUT THE Energy ADVISOR

A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Nigel Blackaby
Global Head, International Arbitration Group,
Freshfields Bruckhaus Deringer

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

María José Cortés
Head of ESG,
Atlas Renewable Energy

Jeffrey Davidow
Senior Counselor,
The Cohen Group

Analia Gonzalez
Leader, Arbitration & Litigation,
Laitn America, BakerHostetler

Jonathan C. Hamilton
Partner,
White & Case

Raul Herrera
Partner, Corporate &
Securities Practice,
Arnold & Porter

James R. Jones
Chairman,
Monarch Global Strategies

Jorge Kamine
Partner, Corporate &
Financial Services,
Willkie Farr & Gallagher

Craig A. Kelly
Senior Director,
Int’l Government Relations,
Exxon Mobil

Jeremy Martin
Director,
Energy Program,
Institute of the Americas

Larry Pascal
Chairman, Americas
Practice Group,
Haynes & Boone

R. Kirk Sherr
President,
Clearview Strategy Group

Daniela Stevens
Director,
Energy Transition and Climate Program,
Inter-American Dialogue

Doris Rodríguez
Partner,
Hunton Andrews Kurth

Alexandra Valderrama
Director,
International Government
Affairs, Chevron

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